Sukuk financing
Mayzuh and Sukuk Financing
From its Financials Department, Mayzuh Company Limited embarked on a business of looking for strategic investors to finance various projects across the African continent and beyond. Working with its partners in Dubai, South Africa, Kenya, Uganda, Zambia and United Kingdom, Mayzuh Company Limited can link you to financiers for your projects in order to get the financing you need. All you need to do is to sign off Non-Disclosure and Confidentiality Agreement and a Consultancy contract with us in which you appoint us to act on your behalf to find the appropriate financiers for your needs via Sukuk bond issuances.
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We are on the Move Again!
Mayzuh Company Limited have facilitated the issuance of the first ever Socially Responsible Investments (SRI) Sukuk, in Sub-Saharan Africa. This is non-other than Premier Sukuk with Yusra Sukuk Company Limited, a Tanzanian-based Capital Markets dealers. The five-years maturity game changer Sukuk in Tanzanian local markets was intended for TZS 1.2 billion but ended up at TZS 1.94 billion. It has a yield rate of 13% per annum payable twice a year with commencement from 3rd June 2024 is expected to mature at 2029. Mayzuh Company Limited is among the Top 10 global Islamic Consultancy Firms as per Islamic Financial News, based in Kuala Lumpur, Malaysia.
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New Sukuk in Tanzania Market
Yusra Sukuk Company Limited, a sister company to Mayzuh Company and the one which deals with Sukuk in capital markets in Tanzania, is poised to bring to market Fay Sukuk Company Limited to be issued by Fay Properties Company Limited, a Special Purpose vehicle (SPV) of Stemregen Tanzania Limited.
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Sukuk in Zambia
Mayzuh Company Limited has secured a deal to issue a Sukuk bond for a real estate owned by Imex Elite Standard. The Sukuk which is destined for EAC, SADC and COMESA regions, is worth USD 3.0 million with rate of return 5.5% p.a and maturity five (5) years. The real estate will add to Imex already existing two villas in Lusaka Zambia. Mayzuh has also entered into a Consultancy Agreement with Mwayi Argisol Project to issue a Sukuk worth USD 30.0 million with five years maturity, for the construction and running costs of a state-of-the-art building materials in Kapiri Mposhi Zambia. This is expected to be the largest Sukuk bond issuance in Zambia and indeed the whole of central Africa.
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More Sukuk to Come in Tanzanian Market
As the signs are showing, there is an increasing demand for financing in Africa with infrastructure estimated at an annual USD 100 billion according to Africa Development Bank (AfDB, 2019 report). Tanzanian corporates are showing a great appetite for Sukuk trough Mayzuh and Yusra Sukuk. We hope many more Sukuk are along the way into the capital market in Tanzania
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